NZD/USD (Kiwi): a guide to the New Zealand dollar-US dollar pair
Updated 2026-09-20
What NZD/USD is, what moves it, correlation with AUD/USD and risk sentiment.
What it is
NZD/USD, called "Kiwi", compares the New Zealand dollar with the US dollar. New Zealand exports agricultural and dairy products, and the currency is considered risk-sensitive.
What moves it
- Reserve Bank of New Zealand decisions
- Dairy prices and exports to China
- Risk sentiment and Fed policy
Correlation
It is strongly correlated with AUD/USD: the two often move together, so trading both largely duplicates exposure.
Liquidity
It is less liquid than the main majors: the spread is higher and in Asian hours moves can be irregular.
Live chart
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Frequently asked questions
Are NZD/USD and AUD/USD the same trade?
Largely yes: they have a high correlation, so it's wise to treat them as a single risk when calculating exposure.
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Educational content, not financial advice. Trading involves risk.